Tax cut to benefit Brits in Spain
www.moneynews.co.uk > General finance > Tax cut to benefit Brits in Spain
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Money News |
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Tax cut to benefit Brits in Spain
Wed 13th Dec 2006
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The tax will be amended from January 1st 2007 which will decrease the amount owed on both personal income and house sales from the present level of 35 per cent to 18 per cent, benefiting those who are not residents of Spain.
Around 800,000 Brits currently own holiday homes abroad with Spain being the most popular destination, says market research firm Mintel, highlighting the amount of people who will benefit from the tax change.
Ian Smith, head of European operations at Halifax, hailed the decision, stating: "This is fantastic news for Britons living or working temporarily in Spain."
Banco Halifax Hispania offers its customers an online guide to purchasing a property in Spain which covers the major areas of the buying process such as sorting out the price, exchanging contracts and payment of taxes.
Related News : General finance |
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Related News : Halifax |
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